Day: June 19, 2023

The Namibian Competition Commission (NaCC) has encouraged the public to report suspicious price exploitations by some retailers, amidst continuous food and goods price increases.

In a recent interview with Nampa, NaCC Corporate Communications Practitioner Dina ||Gowases said retailers in Namibia are not subjected to price caps as they operate in a space where the market dictates the ultimate price, noting however that in events where retailers collaborate to increase the prices of goods and services, the commission may intervene to investigate possible collusive conduct.

“There are isolated circumstances where some retailers may have a competitive advantage over others such as retailers that are in gated communities or alone in a specific town or location… In this instance, such a retailer may be inclined to raise prices to the detriment of consumers as it faces no competition in that area,” said ||Gowases.

She explained the commission can only ensure fair price competition and consumer choices through monitoring prices of goods and services in the market when it receives complaints or information from the general public.

||Gowases emphasised that NaCC does not prescribe prices that should be charged and only intervenes when it is suspected that prices are excessive.

“When suspected excessive prices are reported it may then carry out a price-cost test to determine reasonability. General price increases are usually regulated at the macroeconomic level, through instruments such as the monetary policy which is the custodian of the Bank of Namibia,” she noted.

She further indicated that about 20 large supermarkets in various locations across Namibia were reported to the commission in 2020 during the COVID-19 outbreak for price exploitations up to 600 per cent. Preliminary cost analyses however found that most cases were a result of imported limited supply and high transportation costs due to global oil price increases.

||Gowases noted that the commission’s main challenge is the competition jurisprudence which is still in its infancy stage, adding that certain conduct is not always detectable as it is done in secrecy.

“NaCC wishes to encourage the public to report any potential anti-competitive behaviour in any sector of the Namibian economy. NaCC has a Corporate Leniency Programme where firms that have been engaging in collusive behaviour can self-report and be afforded leniency for their conduct,” she said.

Source: The Namibian Press Agency

Namibia and the Netherlands on Monday signed a Letter of Intent on a visa waiver agreement for Official and Diplomatic passport holders, as well as a readmission agreement between the two countries.

Ambassador Mekondjo Kaapanda-Girnus of Namibia to the Netherlands and Ambassador of the Netherlands to Namibia, Han Peters signed on behalf of Namibia and the Netherlands, respectively, during a working State visit by Mette Frederiksen, Prime Minister of Denmark, and Mark Rutte, Prime Minister of the Netherlands.

In her remarks, Kaapanda-Girnus said the negotiations for the two agreements between the two countries began earlier this month and that these negotiations will continue.

“The readmission agreement will regulate, where necessary, the return of nationals to our respective countries. The visa waiver agreement will make it possible for Namibians with diplomatic and official passports to not only travel to the Netherlands but also Belgium and Luxembourg without a visa,” Kaapanda-Girnus said.

This, Kaapanda-Girnus said, will allow high-level dialogue, maintain friendly relationships and build partnerships.

“The more we get to meet, talk and work together, the more we can build these partnerships in areas such as business, trade and investment, culture and education, and so forth,” the Namibian ambassador said.

“Today you get three countries for the price of one. I look forward to fruitful negotiations and the conclusion of this very important agreement,” the Dutch ambassador said.

Meanwhile, the Presidency in a media statement availed recently said, the working visit would discuss green hydrogen and energy transition, noting that the discovery of oil and the promotion of green hydrogen as part of the energy transition have drawn the world’s attention to Namibia.

“Namibia looks forward to working with Denmark, whose strategy pushes for the production and use of green hydrogen in sectors like shipping and aviation, as well as heavy transport and industry,” it said.

Therefore, this occasion presents an opportune moment for Namibia to engage in a constructive dialogue on energy, it added.

Source: The Namibian Press Agency

The department of works in the Ministry of Works and Transport has been found with discrepancies of N.dollars 273 737 involving eight staff members during the 2021/2022 financial year.

A report of the Auditor General tabled in Parliament recently indicated that the discrepancies of N.dollars 68 647 was found between the principal debt reported by the accounting officer and the documents submitted for audit purposes for eight staff members.

It said eight staff members with a total debt balance of N.dollars 189 205 was reported at the end April 2021, however, the audit found that there was no recovery of these debts during the financial year.

It equally indicated that a discrepancy of N.dollars 15 888 was found in the reported amounts recovered from staff members during the financial year under review.

“It was recommended that the accounting officer should ensure that correct information is provided for audit purposes,” it read.

Meanwhile, the report also indicated that the department has received a qualified audit opinion, noting a total budget for the department of works was underspent with an amount of N.dollars 20 382 587, representing 3.5 per cent.

“This money could have been utilised for other projects. The accounting officer should put measures in place to avoid under expenditure and should ensure that all planned programmes are implemented,” the report recommended.

The report further noted the unauthorised expenditure of eight subdivisions for a total amount of N.dollars 633 080 during the period under review.

“It is recommended that the accounting officer should closely monitor and review the financial position of the department on a continuous basis and take appropriate action timeously to avoid unauthorised expenditure in future,” it said.

Source: The Namibian Press Agency